Rich Diller says even though Albuquerque real estate has seen recessionary fits and starts, it has proven to be a good investment. Out-of-state buyer groups are investigating the Albuquerque market, he said, in some cases for the first time ever.“People are looking for a return, and often banks are too low and the stock market is too volatile for some,” Diller said. “Real estate is a happy medium.”

An overall increase in investment activity is one reason NAI Maestas & Ward has launched a new arm — Investment Property Advisors — to accommodate the business. Maestas tapped Diller, who has 32 years experience in commercial real estate, with relative newcomer Cole Flanagan, who is experienced in the financial side of transactions.

Diller began his career in investments, eventually working for decades for the now defunct NAI The Vaughan Co. in its commercial division. He carries the Society of Industrial and Office Realtors designation for his industrial experience.
Flanagan has been with Maestas for about two and a half years and is a commercial broker and CPA.

“Investments are the hottest market both here and nationally,” Flanagan said. “The difference is there’s not as much product [in the Albuquerque area] so we go outside the state when it’s necessary,” he said. Flanagan and Diller said that over the last year or two, multifamily investments have been hot and that net leases in retail continue to be popular with investors.
The duo say their clients range from REITs to single individuals. Diller and Flanagan recently sold Granada Square, a 100,000-square-foot office building on Montgomery Boulevard near I-25, for about $5 million.